Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday. They currently have a $40.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 4.58% from the company’s previous close.
According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “
A number of other research firms have also weighed in on UBSH. BidaskClub raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a report on Tuesday, January 2nd. Sandler O’Neill set a $39.00 target price on shares of Union Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, ValuEngine lowered shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.20.
Union Bankshares (NASDAQ:UBSH) opened at $38.25 on Friday. Union Bankshares has a fifty-two week low of $29.50 and a fifty-two week high of $39.37. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $1,664.01, a price-to-earnings ratio of 21.25 and a beta of 1.28.
Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. The firm had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million. research analysts predict that Union Bankshares will post 1.86 EPS for the current year.
In other news, EVP John G. Jr. Stallings acquired 1,373 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was bought at an average cost of $36.22 per share, with a total value of $49,730.06. Following the completion of the purchase, the executive vice president now directly owns 9,582 shares of the company’s stock, valued at $347,060.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantitative Systematic Strategies LLC purchased a new position in Union Bankshares during the third quarter worth $626,000. Principal Financial Group Inc. boosted its stake in Union Bankshares by 7.2% during the third quarter. Principal Financial Group Inc. now owns 532,268 shares of the financial services provider’s stock worth $18,789,000 after buying an additional 35,711 shares during the period. Capital Fund Management S.A. boosted its stake in Union Bankshares by 117.3% during the second quarter. Capital Fund Management S.A. now owns 17,600 shares of the financial services provider’s stock worth $597,000 after buying an additional 9,500 shares during the period. Prudential Financial Inc. lifted its position in shares of Union Bankshares by 18.2% during the second quarter. Prudential Financial Inc. now owns 159,959 shares of the financial services provider’s stock worth $5,422,000 after purchasing an additional 24,660 shares during the last quarter. Finally, Martin & Co. Inc. TN lifted its position in shares of Union Bankshares by 35.0% during the third quarter. Martin & Co. Inc. TN now owns 69,246 shares of the financial services provider’s stock worth $2,444,000 after purchasing an additional 17,941 shares during the last quarter. 64.54% of the stock is owned by institutional investors.
About Union Bankshares
Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.
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